In Unprecedented Intervention, Swiss Central Bank Bails Out Firm That Prints Swiss Banknotes
by Tyler Durden
ZeroHedge.com
Dec 21, 2017
In the most ironic story of the day, the company that makes the paper that Swiss banknotes are printed on was just bailed out by the money-printing, stock-purchasing, plunge-protecting, savior-of-global equities...Swiss National Bank.
While The SNB has a long and checkered history of buying shares in companies… as we have detailed numerous times, it is no stranger to pumping money into companies all over the world…
But, as Reuters reports, this is its first acquisition in decades.
The central bank said on Thursday it was purchasing a 90 percent stake in Landqart AG after the company – which makes the polymer material used in new 10-franc notes – got into financial difficulties.
The Swiss National Bank certainly has the ‘currency’ to do the bailout – its share price is up over 250% in the last 2 years…
The Rest…HERE
